KUALA LUMPUR: UEM Sunrise Bhd plans to launch projects with a gross development value (GDV) of RM1.7 billion this year amid a cautiously optimistic outlook.
Managing director and chief executive officer Anwar Syahrin Abdul Ajib said UEM Sunrise expected a better year but was cautious about the soft sentiment in the property market. Hence, it has chosen to go on a moderately active mode of sales this year.
“We are looking at potentially launching projects worth about RM1.7 billion locally and internationally, and we are on track for that. Hopefully, by the second half of the year, we can carry out some good launches.
“However, we need to be mindful of the market. We are cautious, but there are still some bright sparks. We have to be careful with our target market, but I believe people will still buy if it is the right product at the right pricing.
“While we would like to be aggressive, we still have to be cautious, but I think there is no harm in being careful in introducing some products that meet the customers’ expectations,” he said at a briefing on Arcoris Mont’ Kiara yesterday.
UEM Sunrise is targeting RM1.2 billion in sales this year. Last year, it revised its RM1.5 billion sales target to RM1 billion and managed to achieve RM1.4 billion.
He said the launches would comprise six to seven projects this year in Malaysia and abroad, with a surplus of 201ha in available landbank.
“We expect to make some good announcements in the next few months on our landbank. However, we need some time to assess sites and do the due diligence.”
Arcoris Mont’ Kiara is a mixed-based commercial high-rise development located in Mont Kiara, comprising five integrated components with a RM1.2 billion GDV.
The development was designed by Foster + Partners, a London-based global architecture and design firm, which had previously designed The Troika and Universiti Teknologi Petronas.
The project handover would start from middle of this month in batches.
The five integrated components are business, home office suites, serviced residences, hotel and retail, namely Arcoris Suites, Arcoris Soho, Arcoris Residences, Hyatt House and Arcoris Plaza.